We use cookies to analyse how visitors use our website and to help us provide the best possible experience for users. By continuing to use our site, we will take that as your consent to allow us to use cookies. However, you can disable cookies at any time if you wish.

Pensions

While the government resisted making more dramatic pension changes in the spring Budget, it was forced to drop its planned rise to National Insurance contributions for the self-employed. This has triggered renewed speculation that the availability of pension tax relief is still in the firing line, as the government now needs to find other ways to raise the lost revenue.

The Treasury is understood to have ruled out moving to a flat rate of pension tax relief, but a further cut in the annual pension allowance appears to be back on the table. While the threat remains, those saving for retirement would be wise to make the most of the available allowances and reliefs.

The value of an investment with St. James's Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested.

The levels and bases of taxation, and reliefs from taxation, can change at any time and are generally dependent on individual circumstances.

The Partner Practice represents only St. James's Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the Group's wealth management products and services, more details of which are set out on the Group's website www.sjp.co.uk/about-st-james-place/our-business/our-products-and-services. The 'St. James's Place Partnership' and the titles 'Partner' and 'Partner Practice' are marketing terms used to describe St. James's Place representatives.